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Harry, Hermione, and Ron formed an S corporation called Bumblebore. Harry and Hermione both contributed cash of $25,000 to get things started. Ron was a bit short on cash but had a parcel of land valued at $60,000 (basis of $50,000) that he decided to contribute. The land was encumbered by a $35,000 mortgage. What tax bases will each of the three have in his or her stock of Bumblebore?
A company has net income of $180,000, a profit margin of 7.5 percent, and an accounts receivable balance of $119,370. Assuming 80 percent of sales are on credit, what is the company’s days’ sales in receivables?
davenport inc. offers a new employee a lump-sum signing bonus at the date of employment. alternatively the employee can
Compute the total, price, and quantity labor variances for Mason Company for November.
1. ekman company issued 1400000 13-year bonds and agreed to make annual sinking fund deposits of 70700. the deposits
the controller of santa fe housewares inc. instructs you to prepare a monthly cash budget for the next three months.
harrson co. owns 20000 of the 50000 outstanding shares of taylor inc common stock. during 2013 taylor earns 1200000 and
karen austin corporation has capitalized software costs of 709500 and sales of this product the first year totaled
Diamond company borrowed $500,00 from a bank on Jan. 1, 2007 in order to expand its mining capabilities. the five-year note required annual payment of $ 130,218 and carried an annual interest rate of 9.5%.
1. on january 1 2013 bishop company issued 10 bonds dated january 1 2013 with a face amount of 20 million. the
the bruin corporation a c corporation is owned 100by john bean and had taxable income in 2013 of 500000. john is also
At least three recommendations you can make, within the context of law and ethics, so each company can improve its financial health.
motors is preparing a sales budget for the current year for the service department that based on last years actual
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